PANews reported on December 24 that, according to a Hong Kong government press release, the Financial Services and the Treasury Bureau and the Securities and Futures Commission (SFC) jointly announced the conclusion of their consultation on the licensing regime for virtual asset trading and custody services. The market widely supports including such services in the regulatory framework. The new regime will follow the traditional securities regulatory structure, focusing on core risk control such as private key custody. The two agencies have also launched a one-month public consultation to establish an independent licensing regime for institutions providing virtual asset advice and management services, which is expected to be submitted to the Legislative Council for review in 2026.